According to a report by Bloomberg, Oatly is considering an IPO in 2021 which could value the company at up to $10 billion. Oatly is a Swedish vegan food brand founded in the 1990s which turns fiber-rich oats into liquid food.
In the last year, the company has doubled sales, aided by consumers switching to vegan diets for environmental and health reasons.
Oatly's exponential growth has attracted investors and contributed to a $200 million private round in 2020 led by The Blackstone Group “BX”. Celebrity investors including Oprah Winfrey and Jay Z also participated in the round.
Oatly also struck a deal to get on the menus of Starbucks in China as the Coffee chain made a push into sustainable and vegan offerings. For Oatly, the deal gave the company the opportunity to introduce itself to a large portion of the Chinese public. A group that’s especially important when considering the Chinese vegan market has been growing quickly and steadily in recent years.